Facebook grew revenues by 11% in Q2. This rate is higher than investors expected, but still driven to record lows by the pandemic slowdown. It forecasts 10% growth in Q3.
The company is under very public pressure over its moderation of hateful content, with upwards of 1,000 advertisers joining a month-long boycott, while other online platforms institute tougher policies on hate.
Facebook’s world-beating ad product and 9 million-strong bench of active advertisers means an organised boycott can’t hope to dent its growth. A coalition of advertisers, users, staff and regulators could make it take notice.